 "ONGC")
The opposite companions within the discipline are Azerbaijan state power firm SOCAR, Hungarian power agency MOL, Japan’s Inpex and Itochu, and Turkey’s TPAO.
India ONGC Videsh has signed a $60 million take care of Norwegian power large Equinor to lift its stake within the offshore Azeri Chirag Gunashil (ACG) oil discipline within the Caspian sea and linked pipeline, the Indian firm mentioned on Friday.
OVL, the abroad funding arm of India’s high explorer, will purchase a 0.615% stake within the oilfield and a 0.737% share within the Baku Tbilisi Ceyhan (BTC) pipeline from Equinor, it mentioned in a inventory change submitting.
“The acquisitions are anticipated to be accomplished within the upcoming months,” it mentioned.
ONGC Videsh has a 2.31% curiosity within the ACG discipline and a 2.36% shareholding within the BTC pipeline.
The BP-operated ACG discipline is the biggest oilfield within the Azerbaijan sector of the Caspian basin and the BTC pipeline is used to switch crude oil to the Turkish Mediterranean coast.
The opposite companions within the discipline are Azerbaijan state power firm SOCAR, Hungarian power agency MOL, Japan’s Inpex and Itochu, and Turkey’s TPAO.
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First Printed: Jul 19 2024 | 9:57 PM IST
